New York equities end: Evergrande crisis causes significant losses

NEW YORK (dpa-AFX) – In particular, investors’ fear of the ailing Chinese real estate sector weighed heavily on Wall Street on Monday. In addition, investors currently fear an early departure from the loose US monetary policy. In late trading, however, some investors picked up again at a low price level and thus kept the losses within limits.

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The leading index Dow Jones Industrial In the end, it fell by 1.78 percent to 33,970.47 points after briefly falling to its lowest level since the end of June. The broader S&P 500 lost 1.70 percent to 4357.73 points. The tech-heavy Nasdaq 100 lost 2.10 percent to 15,012.19 points.

At the beginning of the week, the Chinese real estate industry increasingly moved into the focus of investors. The troubled Evergrande group has to find fresh money to pay banks, suppliers and bondholders. Investors fear a payment default. The problems have worsened for Evergrande in recent months, according to observers, as Beijing enforces stricter rules for the country’s highly indebted real estate sector. Economic problems in the Middle Kingdom can spread to the world economy through international trade and financial relationships. / La / jha /

Source: dpa-AFX

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